Help using BAII Calculator

[PCCLEP]

Anyone know how to use the BAII calculator to solve these two problems? I've figured out how to solve the other problems with the BAII, but these "equal annual problems" I can not figure out which buttons to use.

Thanks for the help.


Question 26 of 35
A man borrows twenty-seven thousand dollars for a new car and will repay the loan in equal annual payments over the next 10 years. The interest rate on the loan is 7%. How much is each end of the year payment? Finance Tables


$3,428.93
$2,889.00
$3,844.19
$4,213.78

Detailed Explanation:
$3,844.19.

3844.19257 = 27000/[(1/.07) - (1/(.07(1.07^10)))]

Annual Fixed Payments = Present Value/[(1/interest rate) - (1/(interest rate((1+interest rate)^number of years)))]


Question 27 of 35
A woman wins a sweepstakes giving away two hundred fifty thousand dollars. She has two options for receiving the money; she can either take twenty five thousand dollars a year for ten years, or she can get the present value of two hundred fifty thousand dollars in ten years, now. If she chooses the first option, with a discount rate of 11%, what is the present value of twenty five thousand dollars a year for ten years? Finance Tables


$42,450.36
$153,412.54
$220,000.00
$147,230.80

Detailed Explanation:
$147,230.80.

147,230.80 = 25000[(1/.11) - (1/(.11(1.11^10)))]

Present Value = Annual Fixed Payments[(1/interest rate) - (1/(interest rate((1+interest rate)^number of years)))]